TNBiz (TNBiz)
Markets  |  July 29, 2012 05:03:46

Americans communicate the details of the July unemployment development


WASHINGTON (MEDIAFAX) - The U.S. Labor Department on Friday, July communicate the details of the development of local unemployment. In June, stagnated at 8.2 percent.

Ministry of Labour together with the June unemployment rate also announced that the U.S. was created in June only 80,000 new jobs, while analysts expected a rise roughly 100,000 new positions. Data exert pressure on the local central bank Fed to do more to support American economy, and threatens the chances of the current U.S. President Barack Obama on his re-election this November.

The June data also showed a significant slowdown in job creation in April, May and June, which fell to an average of 75,000 monthly seats. It was only a third of the monthly average of the first quarter, when it was 226,000 jobs per month.

"In the U.S. unemployment rate remains at 8.2 percent. It is evident that the private sector does not look too new people and even the public sector is not interested in new people. The data on newly registered at the labor office shows that the unemployment rate has not changed, "said the agency Mediafax financial markets analyst Next Finance Martin Prokop.

The U.S. economy in the first quarter of this year, according to revised data increased QoQ by 1.9 percent, while the result was in line with analysts' expectations. Ministry of Commerce of the United States and confirmed its previous refined estimate. In his very first estimate Commerce Department reported growth of 2.2 percent even. In the last quarter of last year, U.S. gross domestic product (GDP) increased by equal three percent in the first three months of this year, significantly slowed.

Consumer spending, which accounts for roughly 70 percent of U.S. economic activity, in the first quarter of this year grew by revised data, the Department of Commerce "only" 2.5 percent, while the ministry originally reported growth of 2.7 percent.

The U.S. central bank Fed recently deteriorated sharply growth outlook for the local economy this year. The local gross domestic product (GDP), according to updated forecasts will not increase by more than 2.4 percent, while the Fed allowed earlier 2.9 percent growth.

Thomas bunny, kralicek@mediafax.cz

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